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Highland Utah Homes for Sale and your Credit
Highland Utah Homes for Sale and your Credit
When it comes time to purchase a new home there is nothing more important than having Good Credit. The first thing a lender will do is review your credit report. The credit report is a history of money you have borrowed in the past and how you have repaid those debts. It contains a list of debts such as credit cards, car loans, and other loans. It also contains other public records such as liens or bankruptcies. Your credit report is constantly being updated and most of the information is deleted from you record after 7 years (10 years for bankruptcies). This credit information is then used to help generate a computer driven number that indicates your risk to lenders. This is what is called your Credit Score.
No Credit?
It is very important to establish some kind of credit long before you ever consider purchasing a new home. Perhaps you should apply for a credit card or two, then use them very carefully and pay them off each month. Next, apply for credit at a Department Store. Next, apply for a car loan. Each one of these purchases, along with paying regularly on ... more

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